515 Highett Road, Highett, Vic 3190

POINT OF INTEREST:


Some properties just hum with potential, but this one also grills, plates and pours (back into your pocket). Home to Highett’s beloved Hellenic House Project, this dual-level freehold stands proudly in the heart of this vibrant retail village, just steps from the train station and shopping centre. Upstairs, you’ll also find The Good Room, an iteration of the Hellenic House Project led by George Colombaris and his team to offer a contemporary Greek menu. It received one hat from The Age Good Food Guide in May 2023, bolstering its calibre amongst the strip’s local flair.

Following a stunning $1.5 million transformation by award-winning architect Billy Kavalaras, the property now boasts a cutting-edge fit-out with state-of-the-art finishes, a north-facing courtyard and balcony, and secure rear laneway access. The property benefits from significant levels of both vehicle and foot traffic thanks to its position here, billboarding its facade to a constant stream of both local and visiting baysiders.

Just steps from Highett Train Station and surrounded by the suburb’s best eateries and shopping points, this address has a front-row position to Melbourne’s fastest-evolving village-style precincts. You’ve probably heard of Hawker Bar, Typhoon, and Abbiocco, but you may not have heard of Railway Wine Bar, Vino e Vita, and Aila — showcasing the growing appetite of the bayside area.

- Leased to 30 years plus experienced hospitality operators and trading as ‘The Hellenic House Project’.
- 10 Year lease term that commenced in 2023 with options to 2043.
- $129,792 per annum plus outgoings + GST with 4% annual increases.
- 6-month bank rental guarantee.
- Superior 6.7 metres* frontage to Highett Road.  
- 240 sqm* total building area.
- 246 sqm* total land area.
- Commercial 1 zoning.
- Recently underwent $1.5 million refurbishment.
- Generous depreciation allowances 
- Secure, north-facing courtyard and balcony.
- Rear lane access.
- 100 m* to Highett Railway station.
- 250 m* to the Nepean Highway.


POINT OF VIEW:

With $1.5 million in improvements and only 80 m* to the train, this is a premium investment with prime exposure that over caters in every way you look at it — so make sure you come hungry.

*Approx.
Pricing excludes GST